Bankruptcy Act · 2021 Revised Edition · Part 3
45. Restriction of rights of creditor under execution or attachment
Official textFrom Attorney General's Chambers, unchanged
Where a creditor has issued execution against the property of a debtor or has attached any debt due to him, he shall not be entitled to retain the benefit of the execution or attachment against the trustee in bankruptcy of the debtor unless he has completed the execution or attachment before the date of the receiving order and before notice of the presentation of any bankruptcy petition by or against the debtor, or of the commission of any available act of bankruptcy by the debtor.
property
"property" includes money, goods, things in action, land and every description of property, whether real or personal and whether situate in Brunei Darussalam or elsewhere, also obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, arising out of or incident to property as above defined;
For the purposes of this Act, an execution is deemed to be completed -
in the case of movable property in the possession of the debtor or of negotiable instruments or of money, by receipt or recovery by the judgment creditor of the full amount of the levy, after due compliance by the bailiff with the provisions of section 46;
in the case of movable property to which the debtor is entitled subject to a lien or right of some person to the immediate possession thereof, by attachment by prohibitory order and sale;
in the case of lands, houses or other immovable property or any interest therein, either at law or in equity, by attachment by prohibitory order and due registration thereof in the appropriate
Land Office;
Bankruptcy
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in the case of an attachment of a debt not being a negotiable instrument, by receipt of the debt;
in the case of shares in any public company or corporation, by attachment by prohibitory order;
Ifj in the case of property in the custody or under the control of any public officer in his official capacity or in custodia legis, by attachment by prohibitory order duly obtained and served; and
in the case of an equitable interest in lands, houses or other immovable property, by the appointment of a receiver or manager.
An execution completed as mentioned in subsection (2), is not invalid by reason only of its being an act of bankruptcy, and a person who purchases the goods in good faith under a sale by the bailiff shall in all cases acquire a good title to them against the trustee in bankruptcy.
Terms defined in s 2
available act of bankruptcy
Defined · s 2"available act of bankruptcy" means any act of bankruptcy available for a bankruptcy petition at the date of the presentation of the petition on which the receiving order is made;
property
Defined · s 2"property" includes money, goods, things in action, land and every description of property, whether real or personal and whether situate in Brunei Darussalam or elsewhere, also obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, arising out of or incident to property as above defined;
Chapter
Chapter 19), unless he informs the trustee in writing to the contrary, is deemed to be his last known address for the purpose of subsection (3).
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